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Topic # 112637 15-Dec-2012 22:19 Send private message

Hot off the press in Australia this evening (no mention at all in the NZ media yet) is the annoucement that Fairfax have sold their remaining stake in Trademe for A$650 million to pay off debt.

It could be some interesting times ahead for Fairfax. The debt may be gone but so is the money tree...



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  Reply # 732990 15-Dec-2012 22:21 Send private message

Unless they have learned all they need to and are not happy with where trademe is going - about to roll their own or something perhaps?




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  Reply # 732992 15-Dec-2012 22:23 Send private message

More information on The Australian (two hours ago): "Fairfax drops Trade Me.

"FAIRFAX Media is selling its remaining stake on on line arm Trade Me for AU$650 million to leave the company debt free.

The stake is being sold today to a range of institutions in a placement through UBS. UBS is selling the shares to a range of Australian and New Zealand institutions.

The sale at $ 3.05 a share is at a five per cent discount to the stock's close on Friday

The sale proceeds amount to more than the company paid for Trade Me some five years ago so it has been a profitable investment.

But the deal surprises because it is regarded by many as its best assets in the digital media world.

Fairfax is reportedly keen to pay down all debt to match the status of News Corps new print media arm and having watched the pitfalls of Ten network."




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  Reply # 732993 15-Dec-2012 22:25 Send private message

richms: Unless they have learned all they need to and are not happy with where trademe is going - about to roll their own or something perhaps?


Only if they're backing Wheedle...





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  Reply # 732998 15-Dec-2012 22:43 Send private message

Interesting the news isn't even on the stuff website. Wonder if they will now remove all the links on the stiff website to all the different trademe websites. Doesn't really much much sense to me in terms of online being the future for news, but I guess if they need to pay down debt they may not have much choice. 5% discount on the shareprice though is quite generous. Guess they did that for a quick easy sale.

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  Reply # 732999 15-Dec-2012 22:58 Send private message

Oz bubble has popped!





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  Reply # 733000 15-Dec-2012 23:04 Send private message

Interesting news, I'll be watching this space closely :)

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  Reply # 733004 15-Dec-2012 23:14 Send private message

Wonder what it will do to the share price on Monday. Fairfax did very well out of it in the end, so a good investment for them. But I struggle to see where the growth is in it without some major new idea. Currently they are just raising fees to increase revenue, which at some stage the fees will have to reach a peak. It's not really a growth company in it's current form, but I think it needs to be.

Speaking of Wheedle, I see they have updated their website with a new yellow colour and a message to say they will be back online soon. I think they are better to do a soft relaunch this time.

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  Reply # 733051 16-Dec-2012 09:21 Send private message

nakedmolerat: Oz bubble has popped!


the print media bubble has popped a while back with most of fairfax's newspapers losing money to the internet generation ...

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  Reply # 733091 16-Dec-2012 11:36 Send private message

richms: about to roll their own or something perhaps?


They are not THAT stupid.




---
James Sleeman

My hobby - listing small amounts of interesting/useful hobby electronic components hardware and stuff on Trademe for cheap, all good geek stuff for the "maker" revolution ;-)

Tip for Trademe addicts: install an addon for your browser to get thumbs for all listings.

gzt

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  Reply # 733174 16-Dec-2012 15:54 Send private message

I caught something on the radio today something like fairfax would not confirm or deny the sale and neither would trademe. Weird.

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  Reply # 733233 16-Dec-2012 19:31 Send private message

3 News tonite said that sale was all on..




Regards,

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  Reply # 733273 16-Dec-2012 20:52 Send private message

Nothing all day on the NZ Herald website until 7.00 pm.

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  Reply # 733274 16-Dec-2012 20:53 Send private message

gzt: I caught something on the radio today something like fairfax would not confirm or deny the sale and neither would trademe. Weird.

I thought these things had to be announced through the stock exchange where they put a trading halt on the shares.

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  Reply # 733281 16-Dec-2012 21:20 Send private message

Be interesting to see who will become TM's largest shareholder

Can it still be claimed to be aussie owned afterwards?

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  Reply # 733288 16-Dec-2012 21:51 Send private message

It will possibly be very difficult to tell as they are often purchased in bulk by fund managers.I did read a good story in the herald, which basically said that they have sold it at the right time, and I'd concur. 

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